Housing Wire

APRIL 6, 2023

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) in May for its second public hearing on appraisal bias. At the first ASC hearing in January, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra took aim at the dysfunctional regulatory system that governs the appraisal industry. “I

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Industrial Lending Equity Banks 384

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. Made to order.

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Inspection Technology Loans Mortgages 410

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

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Lending Inspection Loans Finance 485

Housing Wire

NOVEMBER 17, 2022

Jim Amorin, the CEO of the Appraisal Institute , on Thursday announced his resignation from the appraisal trade group. In a statement, the Appraisal Institute said Amorin’s five-year term will end effective Feb. The racial gap itself in appraised values increased by 75% during that period. as Hispanic.

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Equity Banks Residential Finance 369

Housing Wire

JANUARY 24, 2022

That was the startling and totally hypothetical analogy made, based on the current structure of the Appraisal Foundation , in a scathing report released this week. Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote.

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Lending Industrial Finance Sales 370

Housing Wire

MARCH 5, 2021

What a two-year stretch it has been for appraisers. The appraisal workforce was already in decline in 2019. These factors combined to throw the appraisal industry in flux. It has a very uncertain future: will in-person appraisals be the norm, or will technology overtake the process completely or partially?

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Technology Industrial Banks Finance 432

Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. UWM also announced it is extending its no-cost appraisals for primary purchases until the end of April.

Banks 384

Banks Loans Debt-to-income ratio Lending 384

Housing Wire

OCTOBER 20, 2021

Less than one month after launching operations , the private holding group StoicLane – the backers of Interfirst Mortgage – has acquired control of the appraisal management company Lender’s Valuation Services (LVS). The company was founded by mortgage professionals and appraisers that “witnessed the collapse of the mortgage industry.”

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Finance Mortgages Equity Banks 370

Housing Wire

APRIL 26, 2022

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra provided updates on the watchdog agency’s housing-related priorities in testimony before the Senate Banking Committee. Last November, the agency, in a joint action with federal banking regulators, said it would resume all of its normal oversight of mortgage servicers.

Mortgages 384

Mortgages Banks Lending Residential 384

Housing Wire

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

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Commercial Residential Equity Banks 421

Housing Wire

APRIL 20, 2021

The public response to the recent Federal Housing Finance Agency (FHFA) Request for Information on appraisal-related issues was significant, with 164 unique written comments. ” From the National Association of Home Builders (NAHB): “NAHB is a strong proponent of a sound and effective appraisal industry. .”

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Technology Due diligence Lending Industrial 397

Housing Wire

OCTOBER 2, 2023

Mortgage tech company Xactus announced that its valuation solution Appraisal Firewall X has met federal requirements and is capable of fulfilling Fannie Mae property data collection orders. Xactus Appraisal Firewall X provides data for both processes. Xactus Appraisal Firewall X provides data for both processes.

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Banks Inspection Mortgages Design 409

HomeLight

NOVEMBER 30, 2023

An appraisal is one way to answer that question, but like anything price-related, that appraisal isn’t going to be good forever. A common question for homebuyers is: How long are appraisals good for? And how long is that appraisal good for? Why do you need an appraisal? Well, yes and no.

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Banks Finance Loans Lending 113

Housing Wire

FEBRUARY 27, 2024

Xactus provides solutions that include credit reporting, online verifications, fraud detection and property appraisal. Its valuation solution, Appraisal Firewall X, connects mortgage lenders with vetted and trained property data collectors to deliver Fannie Mae’s Value acceptance + Property Data and hybrid appraisal solutions.

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Technology Mortgages Banks Brokerage 408

Housing Wire

SEPTEMBER 12, 2023

Department of the Treasury that would label non-bank financial entities as systemically important financial institutions , which MBA opposes. AVMs hold great promise as an opportunity to alleviate appraiser shortages, minimize bias and reduce transaction costs. MBA is also looking ahead to a U.S.

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Industrial Banks Finance Commercial 410

Keeping Current Matters

JANUARY 26, 2021

If you’re planning to buy a home, an appraisal is an important step in the process. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Home Appraisal. Protect yourself by getting your investment appraised! Home Inspection.

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Inspection Lending Banks Mortgages 279

Housing Wire

FEBRUARY 1, 2024

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Housing Wire

JUNE 9, 2023

“The proposed guidance advises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal ,” the announcement states.

Residential 384

Residential Banks 384

Realty Biz

JANUARY 4, 2024

One of the more researched topics in real estate is appraisals. Whether you are buying or selling a home, it is essential to have a firm grasp of home appraisals. From nearly forty years of experience as a Realtor, buyers and sellers should have at least a basic understanding of real estate appraisals and what they entail.

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FHA loan Construction Renovation Loans 100

Housing Wire

JANUARY 23, 2024

With the acquisition , Consolidated Analytics expands its valuation solutions, offering clients tools — from data and analytics to appraisals — to predict market value and access a more comprehensive selection of collateral assessment products, the company said. . — a provider of property data and valuation technology solutions.

Due diligence 441

Due diligence Residential Real-estate owned Lending 441

Housing Wire

MARCH 8, 2023

To be eligible, borrowers are required to upload all documents — including pay stubs, bank statements and a copy of a complete purchase agreement for the subject property of their mortgage loan. Properties must also be eligible for an appraisal waiver and borrowers must opt-in for automated income and asset verification.

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Loans Closing Closing costs Mortgages 384

McKissock

MAY 10, 2023

If you’re a licensed trainee entering the appraisal business, finding a supervisor can be a challenge. Many real estate appraisers don’t have the time to mentor a beginner. Older appraisers will often want to keep the business alive, and thus will be glad to train a successor. However, this is a “greying” business.

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Banks Commercial Property Management Land 86

McKissock

MAY 13, 2022

How do you stay up-to-date on the latest appraisal news and trends? They’re also entertaining and super convenient since you can stream them during your morning commute or while you’re driving to appraisal appointments. Whether you listen in your car or at your desk, here are seven excellent appraisal podcasts to check out.

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Title Industrial Lending Design 104

Inman

MARCH 9, 2023

Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal.

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Banks Lending Agents Mortgages 148

Housing Wire

DECEMBER 22, 2023

Launched in 2004, 10 of the nation’s top 30 banks work with Volly. Volly’s services will be offered through WFG Enterprise Solutions, which provides customizable services, including appraisal management, valuation services, title and settlement services, sales enablement, and CRM tools, for lenders of all sizes.

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Title Staging Technology Banks 431

Housing Wire

JULY 26, 2023

Depending on loan types , borrowers must have a minimum credit score of 620; up to 80% loan-to-value; and appraisals from two different appraisers required for loans that are more than $1.5 With the expanded options, investors could get loans starting as little as $50,000 and up to $2 million.

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Investor Closing costs Loans Mortgages 370

McKissock

JULY 31, 2022

Are you just starting your real estate appraisal career? Last month we asked our appraisal community, “How did you find your supervisor when you were first starting out?” Thank you to the large number of appraisers who shared their top tips for up-and-coming appraisers! “I first emailed appraisers in my town.

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Banks As-is Industrial 95

Housing Wire

AUGUST 17, 2023

You’re certainly familiar with traditional banking institutions in the mortgage industry, but how familiar are you with neobanks? But what is the relationship between neobanks and traditional banks, and what can financial institutions learn from neobanks? This creates an asymmetrical relationship between neobanks and traditional banks.

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Banks Loans Technology Industrial 368

McKissock

MAY 11, 2023

All real estate appraisers must pass the National Uniform Licensing and Certification Examination as the final step toward earning their appraiser license. According to The Appraisal Foundation exam statistics for 2022 , 1 in 3 people fail the Licensed Residential exam and the Certified Residential exam on the first try.

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Residential Banks Industrial As-is 86

McKissock

FEBRUARY 3, 2023

As part of our contributor series, experienced appraiser Conrad Meertins Jr. shares his advice on how to level up as an appraiser. So, how do you level up as an appraiser? First, I must say that this article is not intended to explain the levels of appraiser licensing. There is a popular saying, “Skills pay the bills.”

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As-is Land Industrial Banks 99

HomeLight

OCTOBER 24, 2023

Whether you’re a first-time seller or a seasoned pro, the appraisal process used to determine your home’s fair market value can be a little intimidating. Lenders require the appraisal to ensure they’re not loaning the buyer more money than the value of the home. All an appraiser is, is a glorified reporter.

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Renovation Agents Sales Banks 85

McKissock

FEBRUARY 13, 2023

McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros Real Estate Solutions. Sign up now.

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VA loan Principal Development Title 85

McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. As part of our monthly survey series, we asked real estate appraisers, “What type of non-lending appraisal work are you MOST interested in pursuing?

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Lending Commercial Inspection Land 99

Housing Wire

SEPTEMBER 8, 2021

Appraisal management company Class Valuation , a subsidiary of investment firm Gridiron Capital , acquired Kansas City, Missouri-based Pendo Management for an undisclosed sum. Investment bank Berkery Noyes advised Pendo Management on the merger. Pendo works with more than 150 lenders, per the companies’ statement.

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Equity Technology Banks Mortgages 370

Miller Samuel INC

JANUARY 23, 2024

She’s started up a very cool Substack: Central Bank Central that features conversations around Fed policy. I very much enjoyed the conversation and I hope you do too!

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Banks Mortgages Marketing Finance 52

Housing Wire

OCTOBER 4, 2023

Lending institutions included mortgage banks, depository institutions and credit unions. Mortgage banks were more likely than depository institutions to cite integration complexity as a serious challenge. A total of 242 senior executives from 219 lending institutions completed the survey between Aug.

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Lending Technology Banks Mortgages 409